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Earnings Per Share
3 Months Ended 12 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Earnings Per Share [Abstract]    
Earnings Per Share Earnings Per Share
As a result of the previously mentioned reverse recapitalization in Note 1, the Company has retrospectively adjusted the weighted average shares outstanding for the three months ended March 31, 2019 to give effect to the exchange ratio used to determine the number of Class A-1 shares of common stock into which they were converted.
The components of basic and diluted EPS were as follows for the three months ended March 31 (in thousands, except per share amounts):
 
2020
 
2019
Net (loss) income
$
(1,966
)
 
$
3,995

 
 
 
 
Basic weighted average outstanding shares of common stock
78,003

 
57,588

Dilutive effect of stock-based awards for common stock

 
1,114

Dilutive effect of stockholder notes receivable for common stock

 
947

Dilutive effect of warrants for common stock

 
2,300

Diluted weighted average outstanding shares of common stock
78,003

 
61,948

 
 
 
 
Earnings (loss) per share:
 
 
 
Basic
$
(0.03
)
 
$
0.07

Diluted
$
(0.03
)
 
$
0.06


Since the Company was in a net loss position for the three months ended March 31, 2020, there is no difference between basic and dilutive weighted average common stock outstanding.
Anti-dilutive stock-based awards, Class A-2 shares, and warrants excluded from the calculations of diluted EPS were 28,365,715, and 0 for the three months ended March 31, 2020 and 2019, respectively.
Earnings Per Share
Pursuant to the Certificate of Incorporation as amended on November 20, 2019 and as a result of the reverse recapitalization, the Company has retrospectively adjusted the weighted average shares outstanding prior to November 20, 2019 to give effect to the exchange ratio used to determine the number of Class A-1 shares of common stock into which they were converted.
Basic earnings per share (“EPS”) is computed based on the weighted average number of shares of Class A-1 shares outstanding during the period. Diluted EPS is computed based on the weighted average number of shares plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options, stockholder notes receivable, warrants and Class A-2 common stock for Class A-1 common stock.
The components of basic and diluted EPS were as follows (in thousands, except per share amounts):
 
2019
 
2018
 
2017
Net (loss) income
$
(5,864
)
 
$
10,803

 
$
8,311

 
 
 
 
 
 
Basic weighted average outstanding shares of common stock
61,850

 
57,621

 
56,321

Dilutive effect of stock-based awards for common stock

 
1,605

 
666

Dilutive effect of stockholder notes receivable for common stock

 
407

 
53

Dilutive effect of warrants for common stock

 
2,549

 
2,368

Diluted weighted average outstanding shares of common stock
61,850

 
62,182

 
59,408

 
 
 
 
 
 
Earnings (loss) per share:
 
 
 
 
 
Basic
$
(0.09
)
 
$
0.19

 
$
0.15

Diluted
$
(0.09
)
 
$
0.17

 
$
0.14


Since the Company was in a net loss position for the year ended December 31, 2019, there is no difference between basic and dilutive weighted average common stock outstanding.
Anti-dilutive stock-based awards, Class A-2 shares, and warrants excluded from the calculations of diluted EPS were 28,561,724, 439,167, and 629,960 for the years ended December 31, 2019, 2018 and 2017, respectively.